The Sun. — London, England, 1808-02-11 00:00:00

• i HOUSE OF PE.ERS, WEDNESD.I,Y, rra. 10. ~:~. ~.~ , I:RTAT.. PARLIAMENT. Mr. Mitford, from the Trdasury and fthrii the Commissioners of the Customs in Scotland, pre sented Accounts respecting "Wessels employed in the Whale, Fishery ;, which - were ordered to lie on the table. The Earl of bAltli 013 T/I stated his Majesty's an s.wer to certain Addresses of the fionse for Ppers, that his Majesty would give orders accordingly. Adjourned till to-morrow (this clay). ROUSE OF COMMONS. WEDNESDAY, FEB. 10. 111 r. Mitford, from the Treasury, pre;ented at the Bar an Account o i l the 13ouet i ies`graqteci for.th'fl o 're-' gular supply of th l eonclou trier ;t with tistk a,. •„ t . i Mr. ,Kiwkeper, Clerk thr, Couhkil,,ipre sentc..d at the ilar. ate Aceottot the FLeg j eid 'for Licences from the Privy ;Council the Ma' 1803. ,y, A new :writ was Ordered fig' the elealen crn, her of Parliatuent for the florotigh of Althcitp . p, its room of Lord, Henry Moore, Mid has .accepted of. the office of Muster-Master,eneral Sir 02.1104 TV RiON gave notice, that, he will p pose cettain Resolutions, retative tb:the - qUestion of the Carwitic, on the fe I t, March e rfhe grazil Trade LiJl was. cotnrn!tted'' in a corn tuitfte of the 'whole House, 'and the -Repott *AS. or tiered to he brought up to-inor:ow. Sir feizAkis - Jinni:TT moved. that :there : . be laid before, the HOuse. an Account Of all :the: Capturett made by his Majesty's nav,al force ; and whieh have been is the diaposal , of the Grown,. with apPOrtion ments at. since 1792. TIIC CJIANCEO.OR of the EXCIIV,RUER expresseo regret that the Hon. R. - trona' had 'not, given notice of his motion, and wished him to deter morrow; • whetvhe would' be prepared, either to btate his objeatons to 4, or thepiutiCular , forin in which he could assent .t 6 it, for he reailVilid not know, at the present moment, whether the Koduc tion of Such an Account was s practicable or 'trot. Sir FRANCIS ISI,7ILDWI7 notice of the' motion for to-morrow. • •' . The'Oider'of the Day a the. Second Reading of the Citrate's' SU,iret . 6ion still being r.:Nid t ;a-loug and very unimportant 'conversation tool .place, upon its merits, in which it was s , ,ipported by Messrs. Diely enson, Lushington, Dr.l,,,aVerenCe,.and thti Chacellor of the ; and opposed by , NLssrs. Lock-. Whithie.td, and Sheridan, who supported Mr. Scott's Petition altainst • ;. The Itill w4s read a second time. Lord "I'Empt,to . moved 'that' the prder'ilsi.taking into' considvtition the Petition' pgaiost the liridge. , water k.:,leaionshoUld be postponed 'from . the 17th of March to the. second Tuesday, of April,' on the ground of some of. the Witne i sses . having been sub-. ',Lensed to give evidence on sornetrials at the As,izes, at thp tune now fixed for taking it into considera tion. ;.. 11dr. Rost., the CAANezta,Ott of the Exoitiatika, and mi.. ,AOA tl, Opp alite.ti tits: delay,, Qtl. the.grootid that it its better that the trial, on ‘vhich these ii , itnesses-were suhpu.an-ted should be put off, than the trial or the merits of the election. - With ,t he leave of the House, Lord Templer withiliew his Motion. LOrd NI rt. eee gaie notice, that' tn-morrow be'w ill move, that there be laid beftire the lou:;e Copies of the Note addressed by LordsLiollAnd and'Atiekkind to the American Minister, dated Deaftiber 1806', re'lat'ive: to the Treaty. is • Mr, SitekinAtt gave na:icti - , that on Meiiidaynext be will move that there laid.before the Huse, Copies of all tlt. Corrtrpondeneo between his i\la jebty'i Mmisieti, and the Court of Stockholm, after the-taking Of Copenhagen, upon the subjett of . te taining posseshion of the Island ofZealand.. • • At;14.F.1.31151 , 11' W ETA E' Lens' 1-1 E BY PETTY" tbai he : observed' from rho ript..rs that ibsa.becti h ici . Iketin'is the HottAe, that the flank liJilagreed to grant a loan of 3 Million's to Ga veli) , I le! 1, cvmhtion . t hal t i ne Public Accounts sht, , old ..be eo:itinited to he,.kgpt, w„k the alone way that they hattinthef beim. Tl4t4Pittin, ceflor of the Exchequer, itt one of Ins lel WO 'Svc nied to have given his dissent, and in anctiledik* cons en t to. this proposition, wi-slw,l that lat,,w9uld now' explain tins.' appaent hwotisidollcy. • 77 1 . e, cII4NCELL QR., to' the .I? . .NC QUEf. replied, that it was understood between, isisu ,and the Bank, that no alteration fotloold take. place the tnode of transiteting the business, between that Corporation and ,the Though h oriel not unthriitaii , l himself ai precluded by the agreement' from e:lo.,ing in cett:iiii cases'a tic4l of the iiiimey is4ued from the 14,1,5".:equer ttothe 6Ortiee, than had hitherto been .pracl isecr. The House [raving Nsolved itself into a Committee of the %‘1)01: . .. House, to consider iurther of the Sup ply• to be to his The 01 1, INC EL 1,0 : (g* the EXCITE; expressed the high satisiatlion whi4.:ll he•tolt call ing the .ittentien )1 the Committee to tot agree ment that he had entered into with the Bat*, and, Irbich Was so advantageousin,ail respeCis, that he presumed the Cotnniittee would find 4) l 9.oficuity approving of. it. As the. Paper 4, comeining the terms of till, bad, been printed i ,and were in the . bands of Honourable Gentlemen; 1ie34.1 not feel it necessary to go much at length into these arrangements. The Committee •s(.tild he , aware, tout Alt , Committee on the I .. .;;q)enditure, in 111411 !It CiAl fteport, liitd direded inquiries to three distinct liuittti ; first, the profit derived by the Bank tram the numegetnent of the public debt; becom ll y , t h e b a la n c e ., of 14.0,lielnoney remaining in' the hJniiii of the &ink ; and thirdly, to the state of oncinimed dividends. On tho first of these heads it suggesta4 itt,elf, that in con,c(inence of the gre - a: increase of the rk bt, it ii,ight he Initiml.ed CVI-11)a more .It.ivantagtloas to tilt public hay wi;en its.all',ount WM till Miler. Attu_ hzr,Jis of a new arrknge.inent betweenhiin t4t,t the Bunk, respeoiing 1.1. e w 31Jui;;:ctt to be Ittittie for the ma na4einent of the (If the following was ti4C :341 0, per 111 Avail per animal s u'iwri the whole of dm l'n. fcticiatlcti, Ociat, jr 14 400 otilhoos, anti nut exec ti 600 ,3001. per raillam ptr 3111/11171, upon the whole amount Ut4iir4 e%‘esii of Pebt uut•44eerrwd above.le the ari4 6,0 miilioas continuing in such case to be maiaged at the atores,Ml rate of 34i1. per million per' annum. 45 01 . fuguillion per annum, Upon :the whole tyiredeemea peht;w I:never 4 may exceed 300 millions, and not amount to 450 From these proportions it would be onserved, that the allowance was reduced from 4501. to 3401. from which the 'public would derive a saving 'of about 65,0001. a year. If there were 0.4. Gentlemen who might be of opinion that a still more advantageous arrangement. might have been made, he requeeted that they would take into consideration the circutie stances under which the present had , been' formed, , and that they would beer in mind the tontrao isting between the Publit and the Bank, in virtue of 'which 4.5:01: per million was to be paid to the Bank for their enanagement And if they did this, he `was convinced that they..would agree with him in thinking that it would have been no leseuejust than ,unwise.tO employ theforee of Parliament in break ing in upotethe terms Of a positive convention. 'The new arrangement: ilaci;boti 'made with the consent of the Bank. Directors, and had he, in the face of en existing ebetraa, arbitrarily imposed _terms npoe them, contrary-to stipulations formerly entered into, 'the country would have lost more , by a •breach of faith. than : it would have gained by any additional savings which might have resulted from it. The abatement was fully as much as under all the eine. cumstances could nd expeaed ; .he should therefore. , abstain front any farther `observations upop this' beer he saw whether or not objeai eus we re te 'be Made to this part of the agreement. The next article oFthe agreemeut was, that-the Batik should advance. three millions, as .3 . 10 an. to Guecretnent, , during the Were witiwut interest, ,in considetenibe , of"the'.leirlauees of public money which were colt- stantly ih bands. •" In the ißeport of the Ceimmite tee, the average-amount of these balances was stated , at 11,104,9191. But the CoMmittee had inteoduced into this caleulation an item which he thought did not properly belong to it, viz, the Sum 'remaining oe account of the Coiumissionere under the Con vention with the United States of America, amonnte ing to 475,02e1., which rather, belonged to the head of - private ceitOra than to that of, public balances., After making the deduaione the. public balances, Would be found to amount to somewhatenore than ten millions and a halt'; but as in future they might be a little diminished, he would calculate thernette tern millions. ,*The •Counnittee appered to have formed ,a sort of estituateof the: advantage which .theentblic might derive from this source, in the fol lowing passage of their ICeport - e--:‘` 'The eutitoritle of Nlie Pitt, and The consent of. the there9overnor of the Bank, established a general principle of 'par ticifeition in these profits of the Bank„which arose frern their exclUsive privilege, and from the balances of public money in their bends, and whether the participation be- in. the. proportion efele4ch, 1-3 d, it.cennot tail tq be extremely,cOnsider able." Freet this it appeared; that the largeit ex ' peCtatien of theCormnitteedid not go beyeed 4 half of the profits, and therefore it wonki not.be unfair to take the medium between. their lowest . and their highest estimate of a fourth and a halfe 'twee Ile ceseary too to bear in mind, thet having already lent three millions to the - public at three percent. the •punlie eeis a gainer of two per cent, upon that settn, - or about tio,nool. a year, which was eqeivelent to a loan of r ,etioo,oool.-enore. It 'was but fair also 40 take into cousideretien the amount of the average halanceein the hands of the Bank,- ar the time when Mr. Pitt 'Made his laSt agreemeet with that:-Pody; which .were somewhere about two millions And a half, so thet when these. two sums were deducted, viz, the batthees - then existing, and for which - a eoinpetisatioe was already ghrtin, and the . I ,200',00(11,'' gained by the.public oh the loan of three millions at three per cent. Lk balances, for winch the, public had a lair Claim to compensation now, were reduced to about 7,500,0001.• The Bank then bad conseute now-to advance to•Gevernment three reillioes.evithe iintinteyest,.whicit .W 4. allowing the public nearly One half of their profits upon these '•balances, aad w h en the million arid. a halt that. they edVan eedlfet year was taken into ecceent, if weuld be fOutelinat the public- lied more than, a i tt4oiZty \ Of the pones, illicit Was surely a fair,participatiou, end iii Ore than the COMmittee in the RepOIL seem to have celculat fel upon obtaining. From' a misunderstanding which prey tiled between lint ati.c.i the Bank, &trifle IVO whole coarse of the acgociation, 'he teas unable to. state to the Committee thelegetiescend of the Bailie' to the tted propositioe which he wee:11)0m to - makei at the writ tit;ie tt si.'33 at °rice so adeentageouseued reasonable ti,at he had not a dodbt but the Commic_ .. tee would adopt' it. lit the. Report .6r:the . teepr -I.)nettee the average -amount unclaimed. , Dividends. and leottery Peizee e had; been stated 'at . .etel e t IA out of which 376,230, 11 4 4 been already, ui the year t tiob, adyaned to 4ovori 4 nent without interest.' Whet he eneenteceproeibse therefore was; that 500,0001. should new, be :advanced from this.. fled, would still, leave in the hands of the flank a shin of I tit,oooT.ee-e sUirt hittzly, to an4Wdril arty del - needs Which were likely to be Made upon it by 'persons to whom these dividende Were clue. Tc.o this trottiqtre, however,: he 'had not the consent of the Bank, nor was it necessary, because the' public had an undoubted tight to take thellW of their owe -money, Indeed, (m 'reviewing the different 'branches of the traes.,taien, it .:wes material that Gentlerneu aliould not ruts at, ay with an idea which he hadeeen in print,, that we Were now laying eiolent hands upon the profits if the' Bank, and that the Batik was not lendieg 'lnoney to ,the phblie :out of its savings. • On the elptr4y , it was materiel to ,it, 7 : press upon the roprietora of Bank Stock, that it was mere!' advecteleg money to the public &el of the *deposit* ni ele • by the public, and that had this been refused, the ; public might in future Wee so employed or regulated the issues of money from the Exchequer, as to have saved the interest:lf money which it vies now obliged to pay. Upon the whole, he conceived- the arrangertients to be lair and advantageous to both parlies e andhe .was fident that the Committee would., have Pleasure in adopting them, as they would materially diminish the burthewi, which' it would be .nevessary to im pose Neel the people, to meet the expences of jite current year. Lie concluded. his statement with moving, " That there be paid into the Exche4uer tbe.surh' of eoe,ouul. but of the unclaimed llivi elends and Lottery Prizes'; provided always, that there remain the hands of the Bank, afte r t he , , , payment of this sum, together with the stu n o f 370,7091. formerly advngvd horn the Some feed., ' the - sum of itio,oool. for the purpose of sa t i s f y i ng thedemands Of legal claimants" - • ,•• Mr. BANK&S' commenced with complimenting his Right Hon. Friend on the able manner in whieh . he had given the Statement be 'had made to the Committee., He had, however, one 'or two 'obser vations to make on the nature of, that •statement ; and he ..would begin with observing first,. upon the .14s . t pattof what 'had 'fallen from 'his Right Hon. Friend : ilkitirely agreed' with him that in the present. instance,. the Bank was not lending "its own money, but that of the Public. There had been, included nearly 100;0001. which, according to the AO:of:l77i, had been left for the payrntiorof un; , clahned dividends, but there had beenalsO od' i leottery Prizes to ,the amount 'of 13;0001. He could not see why those sheuld be, held as distina, or not be Comprehended; as well' es . .thelorMer. .According to the Report 'cif the corninisShiners for - Auditing. Public. 'ACcounts in 1786; adalloWance .Nacl been made for the debt as continually fncieasing.. The business was at that time arranged . at less - than 001..f0r every 'million, but at present ''for the sum'... of six millions 3401. p er Milli on was toPaid; thi s confessed, he thouccht- exorbitant, and even ip the bargain that was then concluded by the•great 'Statesman then living, he did think that . greatman in error, and that the Cotrunissioiters had seen that" bilinesi in a better light. He, for his part, should Lave *preferred a. bargain in Which there. was • a larger dedattion from the rate of allowance; .theugh the loan should be smaller ; because the • former waSpermanent, and the latter Contingent. Another coustderation.VA,.that the Bank had in their-hands thi entire controul of the CoMage, and. that-, it .was .at easy for theca to coin money, to the amount •of the sum hint to Oovernment,. as to issue anew the allount of what 'Banlc vaper Was canci.viled yesterday: His last and most- serious objeCtion wa3,' that be WP3 , inclined to disapproxe of every thing that drew the Bank into any totineedon With Ministers. At the same time, if asked whether be would acquiesce In. the:present bargain, or" -set the whole buiiness adrift again, he should be tlisposed to agree to it as it 4t..pre'sent stood. . TIERNEY said, that. he hoped the Righ.t :Pon.. Gentleman would ,bedisposed:to receive what . ever observations be telt it his duty to offer. to - the A."oinieittee, with the same teroper. with Which.ll6, (fir. T.) should make them.. As to the manner, of. the Right Hon. Gentlernait's statement, the, only lank he had to tiud was, that theßight Itati.. Gen- IlMilan had see Med Ad think rhat, provided the tat r , :g4in, ag a Matthro . f gain t there coup be no objection to the nature ot,the hargain v put he; thought , differently, and his- vital objeCiCon to they nature of the bargain , was, that while the' public: were the guardians of. ti) „Bank, and had itupeSed. .upon : it- a restri6tion with regard ,to ,the,, issue of_ specie, it Was extremely indelicate. (to give it .ne worse name) for the public to make any . gain by such restriction. - The Bight Honourable .Gentle -man had said a good deal to ',rove that . the:Bank Was only giving us back our own money, ,but this was net to all intent's and purposes a. loan, he did not know what-a loan was; the Bank was not to make too much by, us, nor . we to gain by , them ; the Bank had, to a great amount,. public money lying in their bands, acid out of that motleythey lend its three rttiithon, to do what we pleitse with, and without interest now, if' iestead ul three millions without interest, we had from them the interest of that three Millions, 'the - ,irrangenrent would not be so .objeLlionable; for according to he present plan there is. loan of three _millions, but according to his proposition there would be annual . payment bErbO,oool.anti thus the Bat*, keeping theprineipal, wouldemy, to us the interest of what lay - in their haeds, with this proviso too, that they. 'should take .into their own hands the ma nage:nem of-.the debt ‘ without reeeMngany addi tiuual payment fer•so doing. Heehought, it a bad bargain, that the Beek have 100,0001. for the management of 'lO millions. He would take upon him to say, that no private Banker would reinse to do business to theamonot of 'lOO,OOl, it t here were left to millions in his hands. He canteeded, that it was highly improper that the public should be participatorsinany, profitsarislng out,of the.restric tions imposed Upon the Bank the present plan too, of Government being obliged to have recourse to the Batik for a luau did' 'not look likedhavieg a proper confidence: in the resources of the, .Countryl. it • would. be hard ,to cenvitice a Frenchmen" that there was not sonfashifting in 'this. When similar steps were sdapted by, the Cais , :e des Comptes, it was no torious how they were censured in:this Country.— Besides, he believed then; never•wits e • period in Which a loan could be.:mere readily negi)ciated.;---: trade was stagnant, and,,there was -a ;good deal of Money , on band,: 'nit* Him. Gentleman then pro .Ceeded to read 'extra6la 'froMthe Correspondence - I e ewe= the B'Onk , and tlw. Chancellor of the xelte.. quer, in order, to prove the relgtanenof the Bank 'to accede to the first proposition of*the night Hon. Gentleman, .and be se‘tar agreed with .the Pank, that he did not wonder .at its reln6tance t v O'pot six millions out of its own reach. • BeSideS,:he thought that ParlitiMent should., be:cautions in taking , those three millions; until the circumstances of the Bank were more . clearlraicertained. For what had been titer conclud of the Bank since 'the year 17994 They bad divided - bonuses among.t lteitiSelves to 'the attoqiit of four. millions, and bad' ,increased their dividend from seven to ten per cent. Would the Right Hon. Gentleman state to - the House the circinnstantes of the Bank, or was he, prepared to say, that. this step -would retard the taking off rhe restrie.tions? But he hetrr knew much good come of such interceiuse.. Pitt, in 1195 (greafa wanas he was), came off but second best' in a contest with the Batik. Then the Bank, in asudden .panic, would listen to nothing immediate repaymetit ; bet now they can dee' out large advanc es w i t h the greatest composure. thifi occasion th e y lent .its three millions, which he did not believe .wouldlcost them three pence. Did they mean to make a fresh _issue of notes to the amount of-the three .tuillionsi or did they mean to injure the commerce of the country, by refusing to discount private bills ? And here he could -not help . reminding the House, that, at the time of the re newal of the Bonk Cetnpany's Charter, it was cur rently reported that there was one million of notes afloat above - the ordinary calculation. He could not 'see why the Bank should have 100,0001, clear profit in addition to the 3401, on every` million. The pcnccs of the Bank were notorious, and they were well able tp defray them, gut of their own means, As to theupclaitned . diVidends, he thought it st mere . trick en the part of the Bank to -*nrake the slew of reludance they had made. Mr: 1' iiuwrot~ 7 atinied • that the Bank Would niaker4tsne to the amount of the - loan to Govern , : /yr: m y tAris3og . :eiit6eci into a long defence,_ both eftiiVii'ijofits of itiebargain and tire nature Of the bxgon,itself„ He, dwelt upon the great inecii7 velfleirce thatwisuld're l iult - ifrom taking the manage ment Oftliedebt int : 6i4t\itawn hands, and contended th 4 Ba nk %A',ia -lief overpaid for that management , • an Alartcwiould be produ&ive of Much greater ex pence if .we took the Management of said debt into our own hands. • Mr. 11. 1 - 1101? A TON expressed himself tolera• bly satisfied 'with • the• - •bargain that had 'in this , la- stah6. been - made T4r agreed with -.• his . Hon. Friend (Blithe's), that the rate of allow 'once for Matieement . might have been reduced far- . • •ther,'had it not been . fOr the ACio•of Parliament that stop& in *the way:, ' Ent :taking these 'into , considera: : tich, o /1114elieved . the Right Hon. Gentleman • (the Chancel* of the Exchequer,)'had reduced , it near ly as 'Mies `-the *laVv•ellowed :him. With regard tv •the three millions, .he thought that the public ,wqultt4i4ve -a, greater • advantage from these than frohi the allowance of the interest recommended by * so he rx ..m le u . - c 7l l. l h ., : r i h n e c y on , : o i u tri .: t r t e o l - y tli o e s ß e a t L ii )k e A il ' i o t u e lti rest no o t f three million's of'EtcheqUer All this. he said did not oitni!iish the' duty of Parliament to look with jealousy toihls4rinnuntof Bank Notes in circulation. It', might ihappen 7 'too, , thaOthe.' Commissioners of rite Sulking Fund'. 'might find.' it' convenient to Ife , t coine subscribers to the Joatisand lie balance the Bank would, bythis. means, be diminished., Wished iroberefore, to be'elearly...understoed; the CoMmissioners might' be at. liberty .to becolee subscrabers tomthe. loan, if convenient, without its being considered as any infringement of this agree. meat. , ** • Mr. Hustissow, in answer; Stated, that express care fia4 ; been taken to ,provide,that Government .should net' be gecluded from resorting to,any means for reclaing the balances, • • - Mr. obervedithat:shough• the '155 11 .0 of the, tank hitglif -act eiAirged- by.the t'estrietionl 'their capital was still limitted, and unless they had, 'mi • much Capital then , tlterelid not know %vita to do 'smith it;. they.. musrbe losers bp : lending-these - OW .• - • pE said, that on two branches of rzy jll a 611t1houtht 'neassa rY tta • trouble the . ()Use wifh,l,4 ZitUrvatiOn'S Tit ifie-subject of Unclaimed:, biiidends he , f e lt much,inelined. to conctz n, die view of. the Right • Bfllollol,ll,ettiatt. 04410; !The flnit DireCturs, i;t Ate course oZ the 'Cot)Yelf:ctiteS "on this subject, natu ',rally resorted to the , i,Wition ofien..l.lnclaidied whiCh had been,allowed by certain ties of I . I Ta t *aaletn ; yet the natural: definition lee shoUld ;take ti s ge, a,l)ivi‘tend that was not clainvd in, the, ,quarter wheiolnti,' ,. vvithout refirenCe to the next quarter. Of these DividendG all that could be taken ought undbUbtedly to be iPplied,:to the Public. Scar" ino 4 oool. left in the Batt):, was an erupt? stmato meet any unexpected demand. The Hon. DI" rfecthr (Mr. S. l'itotnton) had hinted an instance ofs . e. t ., : a lt vitel t d uti ia > et e ca l ly l r 4 sio i .i i i i tt s eo ta i l i tce w s o ,s t r a l I T ! sudden demand fur 50,0001.,-but he must know 0 1 '1 open to ; t i l o r t r t h fi l e::sEi l ie t b . i t t rn o quer. , -He hoped, therefore, the Right Gentleman would persevere in this pact a the in.' rangement, rangement, and he • had nu doubt the !lank Direco • ,? tots would, on further consideration, De 10664' With it. . On, =Alter, branch of the transa ction, the I tuanagement of the Debt," he would als o 63 Y but ; for though he thought that this might Ife . condud with More economy, yet as the Botm ittetlYid this as agents, and not exactly 1% h :11 E0:real:; I n iord b is ary line of , duty, they certainty bad ato Paid as agents, and not merely as bankers. Thougar, n : the remuneration was larkie, yet he public de rived' a great , advantage from their undertaking the s" - ; nagetnent.of the debt, since it could nut be matiage- i in a different :manner without a much larger %.; pence than the compensation td the Danit.' agreed that the subject ought to be viewed with are'' •fetetice to this circumstance ; and theretOre curred in the general proprietiUf this part of tht! arrangement. With regard to thethird part of arrangement, the Loan.of Three Millions, he eon: eurrNitewith the Gentleman (Mr. Bankes)a and Iris Iti4lit Hon. Friepd (Mr. Tierney), in txPre 4. 39 ; tug strongest` objeatori to the Mode which 1 0 - beeti4esorted to` in this instance. His Right Friend had • said that m 13.1-0011 would not have been advanced had it, not been for the restrietion. VV, e , t he core, titer he was right or wrong in that, he die know; bur - of this he was - Sure, that the Hottrt Ought to take care that - the 'Bank Re.striLtion should not be considered in the slightest deoree in t his 1r W, , The restriction was by on" s doe tO pessit . e et the time it. was imposed, and it wa s i d the Public' that nothing should be done which shoutio, in the least retard the period at which it Migh t -i c ,, taken off. If any accommodation was giien' er teptecl, Witlf reference to this restrietion, it wt? b. be attended with endless mischief both to the Yu lie and thißank: He thought it. the more nec ea r, 4 ; to advert to this, becaus e in the Correspondenc e t i t s ;el, ;was . no dire& recognition of the exclusiOn.° l , he - coesideration. of the restriction~; and if wha t '• , 0 Direaora said was correct, that they did not cler ° (i a prblit from thP balances up - to the amount assort, l % ; ihy 144 Chancellor of the Exchequt,-1, he was at 3 J°:„ it() know:on other ground they could agreeut; ads .- ance this sum, except that of the restriaion , 'L e 'could not agree that we were here only taki ll g4 i t .publie money ; our right-was to derive some Pru in from. the additional notes issued from the Banl ,. ,:eoriseetieticeOf the balances in their minds. ir ,1,0 Bank should issoe an additional three millions 0 0 ,!,,, t 'count of this Loan, they would not be losers 17 0 . • gainers. Perhaps they did not intend it---hot . nut wished to have some security on the subject. " 5 it they dma not issue they must draw three a r d e tp ". frOm some source; .acid they must afford leis accr re . 'modation to:the public in discounting, Stc. by t 44111,1°115, than before: He then proceeded to th? sv . . v , 'peritifindvantages ',vine!) wood bv, derived fron!.11000, ing - Wfigular and permanent allowance of 'which 'a Loan might he raised in another tuannet_iso Ht;`dhiettteedf also in caw of inciedie of Ole baran:es beyond Itt 1 " t i h rt a n t it ttlaTiriTgaitittylllortrli;eGr itedivltrienl